Fidelity adds real estate climate impact fund

Fidelity International has launched its second real estate climate impact fund, the Fidelity Real Estate Logistics Impact Climate Solutions Fund.

The LOGICs fund will invest solely in the logistics sector across core Western European markets and will acquire existing assets with the intention of refurbishing and repositioning to deliver assets that are capable of being operated at net zero carbon. It is classified as a Sustainable Finance Disclosure Regulation (SFDR) Article 9 fund.

Fidelity says it has raised €200m during its first close with Rest Super, one of Australia’s largest superannuation funds, being a cornerstone investor.

Andrew McCaffery, co-Chief Investment Officer, at Fidelity International, said, “The LOGICs fund launch is a great example of partnering with our clients to jointly develop solutions to meet their evolving investment needs. We are pleased to see strong and growing client interest for our climate impact strategies within real estate, supporting the energy transition in the sector through accelerating purchased assets’ pathway to net zero while offering compelling investment returns to our clients. Following a strong first close, investors will have the opportunity to invest in the Fund’s second close towards the end of the year.

“With approximately €550m of deployable capital within our real estate climate impact strategies, we are excited by the opportunity to take advantage of current market conditions and deliver strong returns as well as tangible carbon reduction within an accelerated timeframe.”